Image Recognition
Financial companies applying data-driven AI tools at scale could create market instability or incidents such as flash crashes through automated herd behavior if algorithms implicitly follow similar trading strategies. AI systems could even functionally collude with each other across organizations, such as by bidding to achieve the highest or lowest price for a stock, creating new forms of anticompetitive behavior. Toward responsible AIMost AI risks are not, however, unique to financial services. Enter responsible AI (sometimes called ethical or trustworthy AI). Responsible AI refers to principles, policies, tools, and processes to ensure AI systems are developed and operated in the service of good for individuals and society, while—in the business context—still achieving positive impact.